TRON Dumps as CEO “Locked Down” in China Ahead of Warren Buffett Lunch

[ICOrealityshow]

After Tron’s founder, Justin Sun, canceled his much-anticipated charity lunch with the Wall Street giant, Warren Buffett, misfortunes have come knocking. A Chinese media outlet, 21st Century Business Herald, has reported that Sun was involved in an illegal fundraising scheme in China.

According to the media outlet, Sun conducted unregistered gambling services that were meant for the Chinese market. Additionally, the Tron founder was accused of promoting prohibited pornographic content through porn transaction facilitation, which is banned in China.

Sun is stationed in China

As per the report:

“THE REPORTERS OF THE 21ST CENTURY BUSINESS HERALD HAVE LEARNED FROM VARIOUS SOURCES THAT SUN IS STILL IN THE TERRITORY [CHINA]. ON THE CANCELLATION OF THE APPOINTMENT [LUNCH WITH BUFFETT], THERE ARE STILL SEVERAL QUESTIONS TO BE ANSWERED.”

The question on why Justin Sun canceled his lunch with Buffett still hovers in the cryptocurrency community after so much hype. However, as noted by Business Herald, Sun was unable to leave China after the damning accusations. Sun took to social media explaining that the lunch date cancellation was due to sudden health issue; kidney stones.

On his side, Sun said that the allegations are entirely fabricated since Tron operates from Singapore and not China. Unfortunately, in his response, Sun never mentioned his current physical location. In his Weibo account, Justin said:

“THE ILLEGAL FUNDRAISE ACCUSATION IS WRONG. TRON COMPILED WITH REGULATORS AND REFUNDED INVESTORS ON SEPTEMBER 20, 2017. [THIS WAS] IMMEDIATELY AFTER THE ORDER OF A BAN ON ICOS FROM SEVEN MINISTRIES IN CHINA. …THE TRON FOUNDATION IS BASED IN SINGAPORE IN COMPLIANCE WITH LOCAL REGULATIONS AND LAWS …AND DOES NOT INVOLVE ANY FLOW OF CAPITAL, OR ANY CRYPTO OR FIAT CURRENCY ONRAMP.”

Justin ‘allowed’ victims to be defrauded

In the recent past, Sun was accused by victims of a Chinese Ponzi scheme for being silent when they were defrauded in his name. For context, in the Chinese market, Tron is known as ‘Wave Field’, and the scammers used ‘Wave Field Super Community.’ It later abruptly closed shop with investors being scammed more than 30 million US dollars. Additionally, one of the victims committed suicide.

A Twitter user said:

“A GROUP WAS USING A DERIVATIVE OF TRON’S CHINESE NAME TO CONDUCT A PONZI TYPE OF SCAM, WHICH MANY TRON ENTHUSIASTS FELL FOR LOSING MILLIONS. ONE VICTIM COMMITTED SUICIDE. VICTIMS ARE BLAMING TRON & JUSTIN SUN FOR NOT CONFIRMING WHETHER THE GROUP WAS WORKING WITH TRON.”

To further smear Sun in the world of illegal activities, Sun warned Chinese investors they should be extra careful to avoid being lured by schemes using Tron’s name. However, he did not explicitly mention any such schemes. One day after the warning, Wave Field Super Community evaporated into thin air.

Source of the Article: https://www.reddit.com/r/CryptoCurrency/comments/cguvf4/tron_dumps_as_ceo_locked_down_in_china_ahead_of/

[CryptoYears]

Well, I believe this $4.6 million might also has to do with this. Let see if clear story breaks out or not!!

[Jatel Rawal]

Shocking for me. I thought the lunch event was on because it was to do with charity. So now it’s cancelled with the money be refunded back and will they do things all over again or what?

[Pegasus]

Justin Sun already posed some pictures to show that he's safe and free. Also, Tron's price recovered from that. This is a solid proof showing the volatility of cryptocurrencies. Though I'm not a fan of Tron but its dump and pump following the news is nothing a crypto enthusiast would want.

[Djlakhany]

Justin Sun already posed some pictures to show that he's safe and free. Also, Tron's price recovered from that. This is a solid proof showing the volatility of cryptocurrencies. Though I'm not a fan of Tron but its dump and pump following the news is nothing a crypto enthusiast would want.

Can you please share the link?? I can't find the pictures anywhere. I don't know if it's right to invest in Tron or not, it's too unstable for my liking.

[Andy Blignaut]

Thanks for sharing but this is just a rumor as I don’t think there is any confirmation yet.

[aiviaa485]

Bad news for TRONs and definitely the price of TRON will go down with something like this at Cryptocurrency.
Then Justin Sun will be the suspect of all these bad stories because the usual leaders of certain groups who will be his responsibility and Justin is the CEO of TRON.

[tonymillions84]

Justin has been known as a dubious person with the intention of faking volumes of his project. that was how he managed to push his project to high levels. it will not be a suprise if tron failed out of the market just like bitconnect; a known ponzi project that was highly rated back in the days.

[Zed0X]

This is just another reminder to us on how fast the cryptocurrency market can move. Whatever Justin is facing, I hope it gets settled soon. Whether we like it or not, a negative news on one popular coin will affect all other top crypto.

[masterrex]

In the name of neutrality the reports still to be verified. infairness to justin sun it should be remain innocent as per not proven guilty let the authorities handle the situation i think Sun is intiligent enough to defend itself in the proper court. But sadly the cryptocurrency market is easily react in this kind of negative publicity and Tron's TRX coin maybe at risk to dump.

[MUGNIA]

It is a pity that this news appears, hopefully Justin can solve the problem calmly and TRON returns to moaning, to raise prices after the dump

[gurunanakji777]

I think this is only a FUD. I believe Tron will recover again as I have seen several times tron dump and pump. Yes tron is quite strong and certainly tron will overcome this negative news very quickly.

[muneerashine]

This is a terrible news, not only for Tron but the entire crypto community as well. I hope this issue will rectify as soon as possible. Another bad news another bad day in the crypto market.